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Pivot Trading

  • #36,361
  • Apr 7, 2020 6:39pm Apr 7, 2020 6:39pm
Quoting chahal
{quote} Thank you for that. It definitely helps I think it’s all about keeping things simple and not worry too much about those extra few pips long as you're achieving your daily goals.
Chahal , those last few pips have been the undoing of a successful trade for me many times UNTIL I had my EXIT ZONE defined BEFORE I ENTERED THE TRADE.

You said it yourself , "keep it simple....don't worry about those extra few pips.

Green Pips To You
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,362
  • Apr 7, 2020 8:36pm Apr 7, 2020 8:36pm
Quoting Davit
If you can get excited about trading as this guy is excited about new BMW R1800 stunning work of ART then you are golden This is my goal GET THIS BIKE! LOVE EVERYTHING ABOUT IT. I just need to focus harder to make $$$ https://www.youtube.com/watch?v=fbzOzLxN_4Y
Grew up around motorcycles, specifically sports bikes from as early as I can remember. Absolutely love seeing the beauties you have posted throughout your thread, noticed you have a slight soft spot for the cafe racer & cruiser variety
  • #36,363
  • Apr 8, 2020 1:16am Apr 8, 2020 1:16am
Yesterday at the groceries ... crowded, people shopping for easter, no toilet paper ... people coughing with open mouth in my direction ... people pushing through a narrow corridor towards cashier right next to me. When I said this was a bad thing, the reply was: "I need to pass here!" My reply was: "Of course, that is the most important thing!"

So people do not change! My thesis is, that they carry their ego on to the markets and this is why it stays interesting to trade. Most people do not adapt to changing situations - a thing Douglas already mentioned in his book "The disciplined trader".
Fix up, trade sharp ...
  • #36,364
  • Apr 8, 2020 1:21am Apr 8, 2020 1:21am
Quoting Hickson
Yesterday at the groceries ... crowded, people shopping for easter, no toilet paper ... people coughing with open mouth in my direction ... people pushing through a narrow corridor towards cashier right next to me. When I said this was a bad thing, the reply was: "I need to pass here!" My reply was: "Of course, that is the most important thing!" So people do not change! My thesis is, that they carry their ego on to the markets and this is why it stays interesting to trade. Most people do not adapt to changing situations - a thing Douglas already...
west
Hello Hickson, I also live in Germany (South west closed to the French border) and I had seen the same Situation.
Renko
  • #36,365
  • Apr 8, 2020 1:31am Apr 8, 2020 1:31am
Quoting renkotop
{quote} west Hello Hickson, I also live in Germany (South west closed to the French border) and I had seen the same Situation. Renko
So if we are honest, we know the world is lost ... at least if a situation gets so bad that it requires reason and discipline from society as a whole. But let us enjoy spring a bit for now ...
Fix up, trade sharp ...
  • #36,366
  • Apr 8, 2020 1:54am Apr 8, 2020 1:54am
The UC 1hr chart perfectly resembles the 'Understanding Market Structure' poster that Cryptosurf always posts. Watching keenly for signs of bear control to continue the decline!
  • #36,367
  • Apr 8, 2020 4:30am Apr 8, 2020 4:30am
GC
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In trading, you have to be defensive and aggressive at the same time
  • #36,368
  • Edited 4:58am Apr 8, 2020 4:41am | Edited 4:58am
During NY likely USD bulls come out to play hence dont be early bird special buying GU EU and rest of majors now. GU could drop below 23 and EU reach 830
This is my thought process and I could be wrong
GU 2325 still holding
UC fact already touched S61 suggest likely price go further up 40's then break south of it today.
As a general rule I prefer not sell at the bottom or buy the tops in Pivot zone.There is no EDGE

When we trade according to these rules your winning % is exponentially increased and your DD minimized.That's the key repetition of the Edge over large sample size.

What above means you might get lucky scoring selling at the bottom or buying the tops here and there but over 50 trades you will accumulate large losses.That's what I mean large sample size.
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In trading, you have to be defensive and aggressive at the same time
  • #36,369
  • Apr 8, 2020 6:26am Apr 8, 2020 6:26am
I don't trade this system to a tee, but Pivots are a high priority in my swing entries whether they be short or long term. Just closed out a quick EA short, and have now entered a AN short, highly plausible they pull up for another high before the push down, but more than willing to crack another entry if that occurs.

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  • #36,370
  • Apr 8, 2020 6:34am Apr 8, 2020 6:34am
Hello All,

I took a short Aud/Jpy trade last night GMT time at 67.40 as stocks were rolling over. Took it down from the R61 level but my lesson here is i should of used the next tech level to reduce risk or close trade. I thought the current positive sentiment was overdone and we may drop lower today but markets still positive so i got stopped at small win after being 80 pips up on all 4 trades.

Bill
  • #36,371
  • Apr 8, 2020 6:58am Apr 8, 2020 6:58am
Quoting Egbert
This is what I see on USDCAD, {image} {image}
Hi Pivoters.
Never ceases to amaze me of the talent that exists on this thread.
Egbert posted this UC chart on April 5th. NAILED IT !!!!!!
Excellent job Egbert !!!!!
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,372
  • Edited 10:11am Apr 8, 2020 9:46am | Edited 10:11am
Quoting Davit
During NY likely USD bulls come out to play hence dont be early bird special buying GU EU and rest of majors now. GU could drop below 23 and EU reach 830 This is my thought process and I could be wrong GU 2325 still holding UC fact already touched S61 suggest likely price go further up 40's then break south of it today. As a general rule I prefer not sell at the bottom or buy the tops in Pivot zone.There is no EDGE When we trade according to these rules your winning % is exponentially increased and your DD minimized.That's the key repetition of...
When you say pivot zone, does that mean the area between pivot and next S or R?
Also would you mind sharing the ema you have on your charts that changes colour as it moves up and down and changes direction?
Disregard second request, it looks like the 21ema.

Regards
Terry
  • #36,373
  • Apr 8, 2020 9:50am Apr 8, 2020 9:50am
short GA on break below S38.
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  • #36,374
  • Apr 8, 2020 9:51am Apr 8, 2020 9:51am
My trades using the ema21
https://i.gyazo.com/a174eaeb1ac2ff2d...9eadc84e97.png
.
https://i.gyazo.com/4843fea8509733d7...327e484cf9.png
.
https://i.gyazo.com/1e997e0a6a56b8d4...b3e41da123.png

.
https://i.gyazo.com/c9029c47e278ccd8...8130e131dc.png

.

https://i.gyazo.com/9b7ffff6207c6937...bd2092f721.png
.

https://i.gyazo.com/fa9bbf82ee263e6e...34001a3471.png

.
https://i.gyazo.com/9141568973a7f271...5e1aff3368.png

all these trades went well got some good pips
any thoughts from anyone will be welcome ty
Craig
  • #36,375
  • Apr 8, 2020 10:26am Apr 8, 2020 10:26am
Quoting craigl76
My trades using the ema21 {image} . {image} . {image} . {image} . {image} . {image} . {image} all these trades went well got some good pips any thoughts from anyone will be welcome ty Craig
Is your daily open line set correctly? (Looks like you are in UK at a guess) should be set to 5pm EST.
  • #36,376
  • Apr 8, 2020 10:35am Apr 8, 2020 10:35am
Quoting Nostromo
{quote} Is your daily open line set correctly? (Looks like you are in UK at a guess) should be set to 5pm EST.
Hey Nostromo im in australia i have 3 daily open lines 1 daily open 2 London open 3 NY open
  • #36,377
  • Edited 3:25pm Apr 8, 2020 10:51am | Edited 3:25pm
I know some of you are trading the DOW here's a Crab pattern on a 1 minute chart. Price is hovering in the R100 zone. First DOW trade of the day a failure! Selling @ R 100 did not work, it went 200 points against me. Now there is a Deep Crab on an M5 second kick at the Cat for the day.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #36,378
  • Apr 8, 2020 11:10am Apr 8, 2020 11:10am
Quoting TerryDawe
{quote} When you say pivot zone, does that mean the area between pivot and next S or R? Also would you mind sharing the ema you have on your charts that changes colour as it moves up and down and changes direction? Disregard second request, it looks like the 21ema. Regards Terry
TerryDawe just trying to help out a little since Davit gets a ton of requests.
Any level of support or resistance will have a zone around a pivot point , GENERALLY.
Since you have been watching the UC , the S38 zone on a 30 minute chart has been between 1.4080 as a high , back to S30 of 1.4056. Thus , there is a 24 pip zone which has been created.
Now , since PA moved up from 1.39 zone this morning, the S38 is actually a level of significant RESISTANCE as we speak. The current retracement which just happened proved it. As Mark Douglas would say , "within the last 1 1/2 hours , there was not one trader in the WORLD willing to take the UC higher than 1.4071". Again , the retracement proved it.
However , there are indeed additional S/R zones which will establish themselves in between the major pivot points. As Davit stated this morning , USD bulls were going to take the UC into the 1.40's , and they did. A lot of screen time helps you identify these "in between zones of S/R" Currently there is a zone between 1.4020 and 1.4040 on the UC chart. They are much more noticeable on 5 minute and 1 minute charts.
REALLY PAY ATTENTION TO EVERYTHING THAT DAVIT POSTS , THEY ARE "DIAMONDS IN THE ROUGH" SORT OF SPEAK !!!
Go back 40 pages , look at every chart on every page , and you will see where various zones have been displayed in his charts as well as others.
The information is all on these 1820 pages of posts , you are the one who has to do the work. More screen time equals a better understanding of these S/R levels.
I hope that I have helped ,
Sincerely ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,379
  • Apr 8, 2020 11:50am Apr 8, 2020 11:50am
Quoting Davit
During NY likely USD bulls come out to play hence dont be early bird special buying GU EU and rest of majors now. GU could drop below 23 and EU reach 830 This is my thought process and I could be wrong GU 2325 still holding UC fact already touched S61 suggest likely price go further up 40's then break south of it today. As a general rule I prefer not sell at the bottom or buy the tops in Pivot zone.There is no EDGE When we trade according to these rules your winning % is exponentially increased and your DD minimized.That's the key repetition of...
I brought Eurusd slightly early and now in some DD, more learning ahead.

Stay safe,
Craig
  • #36,380
  • Apr 8, 2020 11:56am Apr 8, 2020 11:56am
Quoting TerryDawe
{quote} When you say pivot zone, does that mean the area between pivot and next S or R? Also would you mind sharing the ema you have on your charts that changes colour as it moves up and down and changes direction? Disregard second request, it looks like the 21ema. Regards Terry
Thanks for reading 1st page and EMA was posted recently thanks for following the thread as well.

You are removed

If you can't even read basic instruction and pay attention you can't trade period! Trading is all about paying attention.
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In trading, you have to be defensive and aggressive at the same time
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